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NewQuest Arranges Sale of Lots to D.R. Horton
NewQuest Properties arranged the sale of the balance of vacant developed lots in Stone Creek Ranch, a resort lifestyle community in northwest Houston, to D.R. Horton Houston.
The 123-lot transaction will be completed in two takedowns, half of which changed hands earlier this month. Dave Ramsey, EVP of Houston-based NewQuest, represented the seller of record, Becker Road LP, in direct negotiations with D.R. Horton.
“NewQuest and D.R. Horton mutually believe business can get done under present-day conditions if all parties work together as they did,” said Ramsey. “Many other builders are canceling and extending deals at this time. D.R. Horton was able to step up and get it closed.”
Stone Creek Ranch is reportedly the largest single-family development on the south side of U.S. Hwy 290 in Hockley. Home sales began there in 2010, about three years after Ramsey sold 600+ acres of raw land to its developer.
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- ◦Development
- ◦Sale/Acquisition